Former UFC owners launch Fertitta Capital with $500 million fund, Venice venture capital fund raises $212 million aimed at real estate tech, and Disney rebrands Maker Studios as Disney Digital Network.
Fertitta Capital launched its first fund on Monday, worth $500 million, which it plans to invest in technology, media, and entertainment companies, reports the Business Journal. The West Hollywood firm’s $500 million pot came from brothers Frank and Lorenzo Fertitta, who sold Ultimate Fighting Championship to WME-IMG, Silver Lake Partners, and KKR last year for $4 billion. The brothers are estimated to have each earned $2 billion from the sale, according to Forbes.
Venice’s fledgling venture capital firm Fifth Wall Ventures announced Tuesday its first fund closed with $212 million in capital contributions, reports the Business Journal. Fifth Wall was co-founded by Brendan Wallace and Brad Greiwe last year and is focused on early-stage technology companies in the real estate space, according to the pair.
Disney revealed on Tuesday its Disney Digital Network, which will combine the talent and brands within Maker Studios with its existing web properties, reports The Hollywood Reporter. The network brings together 300 social media channels that reach a combined audience of more than a billion, the company claimed.